REI Network

REI Network (REI)

Full information about REI Network (REI). Current REI Network price in PAB, REI open/close rates, REI Network history charts, REI Network market capitalization and volume.

1 REI = 0.060 B/. Panamanian Balboa (PAB)
0.0600176 PAB

Last updated: 2024-10-01 01:40:00 UTC - about 1 year ago 1 USD = 1.000760 PAB

General information
Global rank:527
Name: REI Network REI Network
Symbol:REI
Current coin price (PAB):0.060 B/.
Last hour:arrow_upward0.830 %
Last 24 hours:arrow_downward-7.35 %
Last 7 days:4.56 %trending_up
Capitalisation (PAB):57 060 017.68 B/.
Volume 24h (PAB):11 445 265.80 B/.
Available supply:950 000 000.00 REI
Total coin supply:-1 REI
Start date:2019-06-28
Last updated: 2024-10-01 01:40:00 UTC - about 1 year ago

REI Network/Panamanian Balboa (REI/PAB) price chart

REI Network/Panamanian Balboa (REI/PAB) capitalisation and volume charts

What is REI Network (REI)?

REI Network is a public blockchain platform that evolved from GXChain. It offers solutions for decentralized data exchange and is designed to be lightweight, Ethereum-compatible, and high-performing. A key feature of the REI Network is its near-zero fee transaction system, achieved through an innovative design of staking and resource management. This system significantly reduces the cost of on-chain transactions, making them almost free for users. Additionally, the network supports a range of decentralized applications (Dapps) and focuses on low resource consumption through its unique tokenomics.

What is REI Network (REI) used for?

The REI Network is utilized for several purposes:

  1. Staking and Voting: Users can stake their REI tokens to participate in network governance. By voting for validators, they can earn rewards and contribute to the network's security.
  2. Dapp Development: The platform supports the development and operation of decentralized applications (Dapps), with a focus on areas such as DeFi, GameFi, and NFTs.
  3. Free Gas Transactions: One of the key features of the REI Network is its ability to offer almost zero-fee transactions. This is achieved through an innovative design where staked tokens are used to replace on-chain resources.
  4. Fast Transaction Processing: The REI Network is engineered for speed, with an average block time of 3 seconds and a transaction per second (TPS) rate of over 3000. This ensures a quick and efficient user experience.

Who created REI Network (REI)?

The REI Network was developed by the GXChain Foundation. It represents a comprehensive evolution of the GXChain ecosystem, focusing on improved stability, security, and technological advancement. The rebranding from GXChain to REI Network was part of a strategic move to adapt better to the evolving blockchain landscape and to position the network as a more modern and robust platform​​​